waderoush writes: "MIT announced yesterday (after the New York Times broke the story) that globetrotting Internet entrepreneur and investor Joichi Ito has been picked to lead the MIT Media Lab. In an interview with Xconomy, Media Lab researcher Pattie Maes, who led the search committee appointed to find a new director, said Ito is 'somebody who really lives in the future rather than just talking about it.' She said the committee's top priority was to find someone who could raise the Media Lab's profile on the world stage, and that Ito's famously large social network would help with this. Maes said she expects Ito to embark on a hiring binge at the lab — and on the fundraising efforts that will be needed to pay for it."